About First Citizens BancShares Inc (Delaware
First Citizens BancShares, Inc. is a financial holding company headquartered in Raleigh, North Carolina. It was founded in 1898 and operates as the parent company of First-Citizens Bank & Trust Company. The bank has over 550 branches in 19 states, with a focus on retail and commercial banking, wealth management, and mortgage lending. The company also offers trust and investment services. As of December 31, 2020, First Citizens had assets of $50.3 billion, making it one of the largest family-controlled banks in the United States. First Citizens Bancshares, Inc. operates under the supervision of a board of directors, which is responsible for overseeing the company's activities and making strategic decisions. The board is chaired by Frank Holding Jr, a fifth-generation member of the Holding family, who have owned and operated the bank for over a century. The bank is known for its conservative lending practices and customer focus, and it has been recognized for its exceptional customer service. In 2021, First Citizens Bancshares, Inc. merged with CIT Group, Inc. in a transaction valued at approximately $2.2 billion. The combined company operates under the First Citizens name and is expected to have assets of over $110 billion, making it one of the 25 largest banks in the United States.
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